MGIC: 4Q Earnings Snapshot

MILWAUKEE (AP) _ MGIC Investment Corp. (MTG) on Thursday reported fourth-quarter net income of $157.7 million.

The Milwaukee-based company said it had net income of 43 cents per share. Earnings, adjusted for non-recurring gains, were 42 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share.

The mortgage insurance company posted revenue of $285.6 million in the period. Its adjusted revenue was $285.9 million.

For the year, the company reported profit of $670.1 million, or $1.78 per share. Revenue was reported as $1.13 billion.

MGIC shares have risen 10 percent since the beginning of the year. The stock has fallen 24 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MTG at https://www.zacks.com/ap/MTG